01172017Tue
Last update: Tue, 17 Jan 2017 07am

Americas

Markets - FXMM - Americas

C$ strengthens as oil rebounds, domestic economy expands TORONTO: The Canadian dollar strengthened against its US counterpart on Tuesday as oil prices rebounded and domestic data showed the economy expanded for a third straight month.Canada's economy grew 0.2 percent in August from July on strength in mining, quarrying and oil and gas extraction. The gain was in line with a Reuters poll of economists."It's a bit weaker than the headline would suggest," but the Bank of Canada will take the data with "cautious optimism," said Derek Holt, vice president and head of capital markets economics at Scotiabank.The implied probability of a Bank of Canada interest rate cut by mid-2017 dipped slightly to 21 percent from 25 percent before the data, overnight index swaps data showed.Bank of Canada Governor Stephen Poloz will deliver a speech on inflation targets later Tuesday morning. Investors will look for further insight as to how Poloz views the future path of monetary policy after ...

Markets - FXMM - Americas

Dollar surges against Swedish crown on Riksbank, gains against yen NEW YORK: The US dollar hit its highest in more than seven and a half years against the Swedish crown after dovish comments from Sweden's central bank, and hit a three-month high against the yen on expectations of a December Federal Reserve rate hike. Sweden's Riksbank said the chances of another interest rate cut had increased and it was ready to expand its quantitative easing program further. The Riksbank has already slashed rates to negative ...

Markets - FXMM - Americas

C$ weakens narrowly ahead of US GDP data TORONTO: The Canadian dollar weakened slightly against its broadly stronger US counterpart on Thursday, as investors awaited US economic growth data to see whether a recent weakening trend for the loonie has more room to run.The US government will publish its first estimate of third-quarter gross domestic product on Friday, which could influence the Federal Reserve as it mulls whether to hike interest rates this year."If you get something south of 2 (percent growth), the ...

Markets - FXMM - Americas

Canadian dollar strengthens as oil rallies TORONTO: The Canadian dollar strengthened against its US counterpart on Thursday as oil rose, while a breakthrough on a free-trade agreement with the European Union improved the longer term outlook for the loonie.Belgium agreed a deal with its regional parliaments on to approve a landmark EU-Canada free trade agreement, breaking a deadlock that has blocked the pact for weeks."I doubt it is going to have that much impact (on the Canadian dollar) from a short-term ...

Markets - FXMM - Americas

Dollar surges against Swedish crown on Riksbank, gains against yen NEW YORK: The US dollar hit its highest in more than seven and a half years against the Swedish crown after dovish comments from Sweden's central bank, and hit a three-month high against the yen on expectations of a December Federal Reserve rate hike.Sweden's Riksbank said the chances of another interest rate cut had increased and it was ready to expand its quantitative easing program further. The Riksbank has already slashed rates to negative 0.5 ...

Markets - FXMM - Americas

Oil rises on OPEC cut comments, draw of US crude at Cushing NEW YORK: Oil edged higher on Thursday, lifted by a reported drop in US crude inventories stored at the Cushing, Oklahoma, delivery hub, and as commitments from Gulf OPEC members assuaged lingering doubts in the market about cooperation from other producers. Energy ministers from Saudi Arabia and Gulf allies told their Russian counterpart this week they are willing to reduce their peak oil output by up to 4 percent, sources familiar with the matter said. ...

Markets - FXMM - Americas

Dollar hits multi-month highs against euro, yen on Fed bets NEW YORK: The dollar hit its highest level in nearly eight months against the euro and a roughly three-month high against the yen on Tuesday on growing expectations that the Federal Reserve would raise interest rates in December, while the offshore yuan hit a record low. Traders saw a chance of more than 78 percent that the Fed would raise rates in December, up from a roughly 74 percent chance Monday, according to data from ...